You may have heard that there was another approved increase to the standard weekly unemployment benefit released from President Donald Trump. Here's some information you may find valuable for you and your employees on the subject.
States may provide claimants a lost wages supplement of up to $400, composed of a $300 federal contribution from the Disaster Relief Fund and an additional amount up to $100 from state funds.
Wisconsin's maximum weekly unemployment benefit is $370, and when combined with the new program, the maximum possible benefit in Wisconsin will be $670 per week, before tax withholding, and will be retroactive to the week ending Aug. 1, per an announcement from Gov. Tony Evers' office.
But despite the approval Tuesday, state Department of Workforce Development Secretary Caleb Frostman said Tuesday morning that eligible Wisconsinites likely won't receive the money until October. Frostman said it'll take the department four to five weeks to set up the program in its computer system, and two more weeks to test the system.
To be eligible for the program, recipients must receive at least $100 a week in regular unemployment benefits before the federal supplement is added.
As an employer, you may qualify for relief of UI benefit charging if your employees were laid off due to the public health emergency declared by Executive Order 72 and filed initial unemployment claims for weeks after May 16, 2020. See How to Request Relief of Charging under the Department of Workforce Development website: https://dwd.wisconsin.gov/uitax/
Benefit charges for the period of March 15, 2020 through June 30, 2020 will not affect your 2021 tax rate calculation. Benefit charges for initial claims related to the public health emergency declared by Executive Order 72 will not be charged to employer accounts.
As always, PKC3, LLC is here to help you with any business related questions you may have. Please feel free to reach out to us!